Tenet Healthcare (THC) Return on Invested Capital [ROIC] (2009 - 2026)
Tenet Healthcare's Return on Invested Capital [ROIC] came in at 21.51% for Q3 2026, up 6.22 percentage points from 15.29% a year earlier and up 2.75 percentage points from the prior quarter.
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Analysis
Tenet Healthcare (THC) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Tenet Healthcare's Return on Invested Capital [ROIC] was 15.53%, down 9.32 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +3.04 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 24.86% in FY2024 (+13.44 pp), 11.41% in FY2023 (+1.56 pp), 9.85% in FY2022 (-3.22 pp) and 13.07% in FY2021 (+0.58 pp).
- The Q3 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] has increased for three consecutive quarters, with an average year-over-year change of -1.21 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q3 2024 (a gain of 14.72 percentage points), and the weakest in Q3 2025 (a drop of 9.74 percentage points).
- Business Quant data shows THC's Return on Invested Capital [ROIC] at 18.77% (Q2 2026), 16.53% (Q1 2026) and 15.54% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.37 Bn | 104.21 Bn | 17.03 Bn | 21.76% |
| 2 | Natera | 45.03 Bn | 40.66 Bn | 513.47 Mn | -9.90% |
| 3 | Labcorp Holdings | 30.12 Bn | 28.22 Bn | 1.11 Bn | 8.35% |
| 4 | Quest Diagnostics | 28.44 Bn | 26.52 Bn | 1.04 Bn | 9.85% |
| 5 | Guardant Health | 20.93 Bn | 16.54 Bn | 236.15 Mn | - |
| 6 | BrightSpring Health Services | 14.41 Bn | 11.29 Bn | 518.55 Mn | 10.04% |
| 7 | Tempus AI | 14.27 Bn | 11.42 Bn | 266.70 Mn | -57.17% |
| 8 | Encompass Health | 13.98 Bn | 14.44 Bn | 1.54 Bn | 11.80% |
| 9 | Davita | 11.35 Bn | 10.22 Bn | 1.13 Bn | 16.52% |
| 10 | Tenet Healthcare | 231.04 Mn | -8.28 Bn | 4.65 Bn | 21.51% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.51% |
| Jun 30, 2026 | 18.77% |
| Mar 31, 2026 | 16.53% |
| Dec 31, 2025 | 15.54% |
| Sep 30, 2025 | 15.29% |
| Jun 30, 2025 | 15.67% |
| Mar 31, 2025 | 15.26% |
| Dec 31, 2024 | 24.74% |
| Sep 30, 2024 | 25.03% |
| Jun 30, 2024 | 23.31% |
| Mar 31, 2024 | 22.39% |
| Dec 31, 2023 | 11.29% |
| Sep 30, 2023 | 10.31% |
| Jun 30, 2023 | 10.27% |
| Mar 31, 2023 | 9.82% |
| Dec 31, 2022 | 9.88% |
| Sep 30, 2022 | 10.82% |
| Jun 30, 2022 | 13.02% |
| Mar 31, 2022 | 13.30% |
| Dec 31, 2021 | 13.42% |
API Access
Tenet Healthcare Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "THC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();